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As 2024 draws to a close, I want to personally thank you for your continued support through a year of remarkable progress and transformation. Rebranding from Madison Metals to Critical One Energy has opened the door to new opportunities in both uranium and critical metals, just as global demand for these resources soars.
I would like to share a few proud accomplishments that reflect our commitment to creating lasting shareholder value:
1. Khan Uranium Project
A new high-grade uranium discovery led to a mining license for nuclear fuels, an achievement comparable to world-class operations like Rossing and Husab.
2. Joint Venture with Star Minerals
We finalized an earn-in agreement for our non-core Cobra Uranium Project in Namibia, backed by US$4.4 million in exploration over three years. This deal unlocks value and supports our non-dilutive approach.
3. Howells Lake Antimony Gold Project
Acquiring Canada’s largest undeveloped antimony deposit—51 million pounds of non-compliant resources—was a major win. The Hemlo-style mineralization also hints at untapped gold potential.
4. Active Drilling on Three Projects
Our exploration teams will fire up rigs at three key sites, pushing us closer to resource expansion and new discoveries.
Looking Ahead to 2025
As we enter the new year, we are confident in our Company’s direction and potential. Our balanced portfolio of critical metals and our growing strategic partnerships position us well for success. In my career, I’ve never seen such favourable conditions for securing government support and funding in the resource sector. Combined with our strategy of joint venturing non-core assets, this helps to preserve capital, advance our core projects faster, and continue to create shareholder value.
On behalf of the entire Critical One Energy team, thank you for your continued trust and partnership. We wish you a wonderful holiday season and look forward to an exciting and prosperous new year together!
Warm regards,
Duane Parnham
Executive Chairman and CEO
Critical One Energy Inc.
